• Entry
  • Reader's guide
  • Entries A-Z
  • Subject index

Hungary

Following World War II, the central European nation of Hungary was forced into communism. In 1956, when officials announced that the country would leave the Warsaw Pact, Moscow responded by sending in troops. Nevertheless, Hungarian leaders began a program of economic reform, which became known as “Goulash Communism.” After the collapse of the Soviet Union in the 1990s, Hungary freely endorsed capitalism, joining both the North Atlantic Treaty Organization (1999) and the European Union (2004).

By the early 21st century, Hungary had become the 63rd richest country in the world, with a per capita income of $18,600. However, Hungary continues to struggle with an unemployment rate of 10.8 percent, and 12 percent of the population still live in poverty. Some 68 percent of Hungarians live in ...

    • Loading...
    locked icon

    Sign in to access this content

    Get a 30 day FREE TRIAL

    • Watch videos from a variety of sources bringing classroom topics to life
    • Read modern, diverse business cases
    • Explore hundreds of books and reference titles